QUEBEC – The 43-101-compliant mineral resource estimate for the Lac Otelnuk iron ore deposit in Nunavik is complete, says Adriana Resources of Toronto. Compiled by Watts, Griffis and McOuat, the measured and indicated portion is 11.35 billion tonnes at 28.9% Fe, and the inferred portion is 12.39 billion tonnes at 30.4% Fe.
This updated report reflects an increase of 232% in measured and indicated and 794% in inferred resources from the previous estimate as noted in Adriana’s news release dated Aug. 23, 2011.
Four drill rigs resumed operation at Lac Otelnuk last month. Work is focused on definition drilling to obtain information to be included in the design for a potential open pit. Exploration drilling is also planned to test magnetic targets. Since 2007, Adriana and Lac Otelnuk Mining have drilled 261 drill holes totaling 34,037 metres on the taconite iron deposit.
Visit AdrianaResources.com to examine more details about the Lac Otelnuk project.